Personal Loan

get personal loans for just about anything

Learn more about our Personal Loan Scheme under TMB Retail Loan Products.

Personal Loan

This is among the most utilized loan scheme that can be used for any purpose like buying house hold appliances, marriage at home, to meet any family expenses / emergency. The loan is offered with minimum of conditions and has been designed with a common man’s need in mind. The documentation is simple and processing is fast.

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To purchase consumer durables / house-hold articles, to meet the marriage expenses, other family expenses, etc.
Permanent employees, aged below 54 years, who are confirmed in the services of Govt. Departments, Reputed Corporates / Business Houses, Recognised Educational Institutions, etc.
Loan Quantum
If the employer deducts and remits the instalment amount every month or the instalment is deducted from the salary account maintained by the Branch - 6 times of the gross salary as per latest salary bill with a maximum of Rs. 2,00,000. If the borrower remits the loan instalment, where no undertaking is received from the employer and no salary account is maintained with our Branch - 6 times of the gross salary as per latest salary bill with a maximum of Rs. 1,00,000.
  • Lien over Salary, Bonus and other emoluments.
  • Primary: Hypothecation of assets created out of the loan proceeds in case loan is sanctioned for purchasing Consumer Durables / House-hold articles. Suitable third party guarantee to be obtained, if necessary.
  • Collateral: Obtention of collateral security need not be a prerequisite.
  • Guarantee: If the employer does not undertake to deduct and remit the instalment or the instalment is not deducted from the salary account maintained by the branch, suitable guarantee from two worthy persons should be obtained.
  • Proof of income and certificate from the employer for the Take Home Salary.
  • Undertaking from the employer to deduct and remit the instalment amount from the salary of the staff every month when the employer is agreeable for the same.
Maximum of 60 EMI, while fixing repayment, take home salary of the employee, the remaining period of service, etc., will be taken into account so as to ensure that the loan amount is recovered within the period of service of the applicant.
Rate of Interest
One year MCLR (Marginal Cost of Funds based Lending Rate) plus applicable Business Strategy Spread and Credit Risk Premium. Click MCLR Rates of Interest for MCLR based interest rates. For further details please contact our nearest branch.
Penal Interest
Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest on the balance outstanding.
  • Application Form.
  • Proof of Income & Certificate from the employer for the take home salary.
  • Quotations wherever necessary.
  • Undertaking from the employer to deduct the instalment from the salary and remit to the Bank or Undertaking from the employer to allow deduction from salary account, if necessary.
  • Guarantee consent letter from third party, if necessary.
  • Undertaking from the employer that the applicant will not be relieved from the service under VRS without the consent of the Bank.
Processing Charges
1.00% of Limit sanctioned without any maximum cap.
Simple documents as per our Bank Norms.

All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Goods & Service Tax (GST) on All Service Charges extra wherever applicable.